191 / 2024-04-22 22:42:29

The Impact of Community Currency on the Co-Production of Elderly Services: Mechanisms and Effects

Community Currency;,Elderly Services,Co-Production

The recommendations for the fourteenth five-year plan emphasize developing and using ageing human resources more actively and effectively, raising the degree of actively addressing population aging to the level of a national strategy. The core of active ageing is to promote the social participation of older persons, viewing them as a resource for the family and society that can make a positive contribution to economic and social development. In order to crack the reality of insufficient social participation of the elderly and insufficient effective supply of elderly services, co-production of elderly services, as a new model of supply of elderly services, has become a new way out to solve the problems of the elderly. This paper attempts to argue that government issuance of community currencies can promote the social participation of the elderly, facilitate the participation of the elderly in the co-production of elderly services, achieve the growth of the output of elderly services and meet the demand for elderly services, and will be a financial innovation to cope with the aging of the population in a low-cost manner. Focusing on the government's innovative idea of issuing community currencies to promote the provision of elderly services from idle resources, it focuses on the mechanisms and effects of community currencies on the co-production of elderly services. Drawing on Marx's idea of the driving force of money, through an in-depth exploration of the production theory of money, community money is incorporated into the production function as a production factor driving idle resources, and the mechanism of the role of community money acting on the idle labor force and cooperating with the idle labor force in the production of elderly care services is demonstrated through the expansion of the Solow Model. On this basis, by constructing a three-sector macroeconomic model of the government, households of the older elderly and households of the younger elderly, it is elucidated that the government's issuance of community currencies can produce the influential effect of satisfying the demand for elderly services and maximizing consumer welfare. The results of the research will provide theoretical support for the construction of a co-production system for elderly services parallel to the market economy that meets the needs of elderly services for senior citizens, promotes the social participation of junior citizens, and is centered on community currencies, thus contributing Chinese wisdom and Chinese solutions to the world's elderly problems.